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Ovarian Cancer Market – Overview
The global ovarian cancer market is projected to witness significant growth from 2021 to 2031 (forecast period). Ovarian cancer is the third most common malignant tumor in women, accounting for 2.4% to 6.5% of all malignant tumors. It is followed by cervical cancer and uterine body cancer. Some progress has been achieved in preventing and treating cervical cancer and uterine body cancer in recent years. In contrast, progress in preventing and treating ovarian cancer has been slow. As a result, ovarian cancer is the main cause of death among cancers of the reproductive system in women.
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Ovarian cancer has become more common in recent years due to the increasing aging population of women. The rising prevalence of ovarian cancer, the launch of innovative medications and cures, a boost in healthcare expenditure, and higher government support are some factors projected to drive the worldwide ovarian cancer market. Furthermore, rising healthcare awareness is expected to fuel the growth of the global ovarian cancer market during the forecast period.
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Ovarian Cancer Market – Competitive Landscape
Advancements in ovarian cancer diagnostics are desperately needed to detect cancer in its early stages and treat it without inflicting significant damage to the affected person’s internal organs. Key players active in the global ovarian cancer market are investing in the research and development of devices and instruments that will aid in the diagnosis and treatment of ovarian cancer more efficiently and effectively.
Some of the key players operating in the global ovarian cancer market are GlaxoSmithKline plc, Bristol Myers Squibb Company, Genentech Inc., Janssen Pharmaceuticals, Inc., Eli Lilly and Company, Novogen, Inc., Boehringer Ingelheim GmbH, Aetera Zenteris Inc., and F. Hoffman-La Roche Ltd.
In August 2020, the research team from the Suzhou Institute of Biomedical Engineering and Technology developed a non-invasive method for recognizing and classifying the forms of ovarian cancer. It can distinguish between type I and type II ovarian cancer with a precision of 83%.
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Ovarian Cancer Market – Trends and Opportunities
The growing geriatric population all over the world has radically altered the healthcare business. Ovarian cancer is a concern for aging women. As the number of aging women grows, the cases of ovarian cancer are also increasing. The global ovarian cancer market is expected to expand as ovarian cancer becomes more prevalent as the woman population ages. The demand for precise and timely ovarian cancer diagnostics is growing. Government-supported projects and research are working on creating diagnostic methods that could detect cancer in its early stages, as current diagnostic methods detect it after it has progressed to an advanced stage.
Moreover, governments around the world are initiating various projects to educate the masses about ovarian cancer and the importance of early detection. Additionally, increased expenditure and investment in ovarian cancer research activities to find efficient ways for early diagnosis is projected to have a beneficial impact on the ovarian cancer market growth.
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Ovarian Cancer Market – Regional Landscape
The ovarian cancer market in North America is expected to expand considerably during the forecast period. The United States is expected to contribute significantly to North America. In the United States, ovarian cancer is the ninth most common cancer and the fifth greatest cause of cancer death in women. As per the American Cancer Society, approximately 21,750 new cases of ovarian cancer were diagnosed in the United States in 2020. Furthermore, the majority of the key players in the global ovarian cancer market are headquartered in the United States, which is projected to be a big benefit for the region.
The Asia Pacific ovarian cancer market is projected to rise rapidly during the forecast period. China and India are anticipated to be the fastest expanding ovarian cancer markets in the Asia Pacific. Rise in healthcare expenditure, wide pool of patients, and increased government financing are some of the primary factors projected to propel the ovarian cancer market in the region. Although China has seen a drop in cases over the last decade, the number of cases is expected to rise as the geriatric population grows. Moreover, the government is enacting policies to reduce mortality and investing in research to boost ovarian cancer diagnostics.
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